Panama Tops in low cost cargo moving
Friday, April 3, 2009 14:51
Panama is below that of the region average in terms of the costs of moving cargo, making the country very attractive in terms of the logistics and supply chains fields. Panama’s logistics companies have an average overhead cost of 12, 4% in comparison to the regional average of 14,7%.
The results were according to a survey conducted by the Latin America Logistics Center on the request of the National Secretariat for Science, Technology and Innovation and the Panamanian Chamber of Commerce, with a response by close on 60 different companies within the retail, wholesale and manufacturing sectors that rely on logistics companies.
The survey furthermore revealed that the costs could be cut further, if the industry invested more in updating technology, human resources and operational planning. In response to this, Juan Ramón Varela, president of the Panamanian Chamber of Commerce, Industries, and Agriculture, said Panama is indeed integrating new technology into the sector.
Panama – US FTA: Issues still need attention
Further setbacks to the FTA with between the United States and Panama have been realized – specifically pertaining to Panama’s banking industry transparency, as well as labor related issues.
Panama is expected to apply International Labor Organization standards, as well as address the negative perceptions around the banking industry in order to allow the negotiations to proceed.
Unfortunately these setbacks have dampened the high expectations of those that believed the FTA would have come into effect as early as June. Gisela Porras. Panama’s Minister of Trade and Industry, has declined comment pending the full understanding of the context in which various statements regarding the labor situation, as well as the banking transparency, can be established.
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